The Kent-headquartered Westfalia Fruit Group, previously known as Greencell, is an avocado supplier. The company manages more than 100,000 tons of fruit per year. Last April, the company lined up plans to utilise a multimillion-dollar revolving credit facility (RCF) from HSBC UK, the International Finance Corporation (IFC) and Standard Bank to fund potential investments and working capital.
Westfalia is set to expand its sustainable avocado production at its existing packaging, ripening and storage facilities, while exploring new markets. This includes further developing its orchards and nurseries in Colombia, India, Chile, Mozambique, Peru and South Africa to scale up avocado production.
In results for the year to 31 December 2022, the company reported revenue of £188.4m compared to £184.8m for the period ended 1 January 2022. Profit before income tax fell from £5.7m to £4.05m.
Source: insidermedia.com